Cocoa farmers in Ghana stand to benefit from new streams of income following a landmark agreement signed at the Africa–Singapore Business Forum (ASBF) 2025. Three institutions—Afarinick Company Limited, CJ Commodities Limited, and Oman Carbon—have entered into a Memorandum of Understanding (MoU) that will embed carbon finance directly into Ghana’s cocoa value chain.
The partnership introduces four major project streams across the cocoa belt: agroforestry integration, clean water provision, improved cookstoves, and biochar production. Collectively, these initiatives are projected to eliminate four million tonnes of greenhouse gas emissions over the next decade. The carbon credits generated could fetch between US$50 million and US$80 million, unlocking fresh resources for communities that depend on cocoa.
For farmers, the deal promises more than just environmental benefits. By incorporating carbon projects into cocoa production, the industry is opening the door to additional revenue streams, community development initiatives, and stronger climate resilience.
Mr. Joe Forson, CEO of CJ Commodities/Afarinick, explained that embedding carbon finance in cocoa operations “proves that the crop can deliver both export revenues and high-quality, verified carbon credits.” He stressed that the initiative would not only safeguard livelihoods but also create genuine investment opportunities.
Oman Carbon will play a central role in structuring the projects and ensuring transparency through rigorous Monitoring, Reporting, and Verification (MRV) processes. “Every tonne of CO₂ reduced or removed will be traceable and certified, ensuring confidence for both investors and farmers,” noted Kwabena Boamah, Director of Oman Carbon.
Singapore’s Minister for Sustainability and the Environment, Grace Fu, commended the partnership, describing it as a model for how climate action and food security can be pursued together. She urged deeper Africa–Asia collaboration to leverage technology and innovation for resilient economies.
President John Dramani Mahama, also addressing the Forum, emphasised that initiatives like these strengthen Ghana’s position as a hub for sustainable agribusiness. He encouraged Singaporean companies to expand investments in renewable energy, logistics, and digital services, while reaffirming that Ghana’s cocoa farmers remain at the heart of the country’s green economic agenda.
Industry watchers say the agreement could mark a turning point for Ghana’s cocoa sector, where smallholder farmers—long exposed to volatile global prices—may soon benefit from the emerging carbon economy.
